Newsflashes

Background In response to the Covid-19 crisis, the Luxembourg Government declared the state of emergency by its regulation of March 18th, 2020, and passed several measures in the fight against Covid-19. These measures shall be limited to what is indispensable and strictly necessary and are adequate

The European Securities and Markets Authority ( ESMA), together with National Competent Authorities ( NCAs) closely monitor the situation in view of the continuing impact of the COVID-19 outbreak on financial markets in the European Union ( EU). On 11 March 2020 ESMA made the following

On 26 March 2020, the CSSF published a communication on lodging out-of-court complaints (the " Communication") available to customers of the professionals subject to the CSSF supervision. Pursuant to the Communication, because of the current situation with COVID-19, the CSSF’s offices are closed to

On 27 March 2020, the European Securities and Markets Authority (ESMA) announced a public consultation on its draft guidelines (the " Guidelines") on article 25 of Directive 2011/61/EU on alternative investment fund managers (the " AIFMD") related to leverage risks in the alternative investment

On 20 March 2020 the CSSF published an updated version of its frequently asked questions on swing pricing mechanism (the “ Updated FAQs”). The original FAQs first released on 30 July 2019 included set of rules on disclosure in constitutional documents, prospectus and organisational arrangements

In the course of the year 2017, an employee of Company A prepared and filed the 2015 tax return for Company B, a subsidiary of Company A. The employee however had no authority to do so. A few weeks after filing the tax return, the tax office issued a net wealth tax assessment on the basis of §100a